Oklahoma’s House of Representatives passed a bill allowing up to 10% of public funds to be invested in Bitcoin and other digital assets. The measure now proceeds to the Senate, marking an important step in exploring digital financial options.
Legislative Approval
The Strategic Bitcoin Reserve bill cleared the House vote with a 77-15 vote. If passed in the Senate, the state can invest up to 10% of public funds in Bitcoin or digital assets with a market cap exceeding $500 billion. Lawmakers collaborated to develop a framework suitable for modern investment practices in the public sector.
Senate Review
The bill now advances to the Senate for further analysis and discussion. Senate members will scrutinize the proposal before it can become law. With a Republican majority in both the Senate and the governor’s office, the bill is positioned for detailed review. Senate deliberations are expected to address budget allocations and regulatory matters.
State-Level Digital Asset Adoption
Oklahoma's move is part of a broader national trend towards incorporating digital assets into public finance. The strategy aims to diversify traditional investment portfolios with modern asset classes. Officials believe adopting such measures can modernize the management of public funds.
Oklahoma's legislative move highlights ongoing efforts to integrate digital assets into traditional financial strategies. Stakeholders closely monitor each stage of discussion and subsequent developments as the legislative process continues.
